No regulation that I know of. Some plumbers set the baths height to get the waste to fall to the drain. You don't want the waste pipe lookking uphill!!
Most baths are about 20" to 21" high. I generally set the height of the bath to match the bath panel. If the waste height is a problem, we either redo to waste pipe to make it lower or use a low trap.
Some wooden bath panels are 18" high and have an adjustable section that can be adjusted to add 1" to 4" to give a range from 19" to 22".
Jason
March 2009